Fri, Aug 22 08:35 PM
Mumbai, Aug 22 (PTI) Continuing its gains for the second day in a row the Indian rupee today closed higher by 10 paise at 43.42/43 against greenback on alternate bouts of buying and selling amidst oil prices' climbing and recovery by US dollar. Dealers said they were anticipating further intervention by the apex bank to contain the sustain fall in the rupee, which hit 17-month intra-trade low of 43.86 on August 20.
However, suspected intervention by the Reserve Bank of India (RBI) in last two days helped the local currency to recover some lost ground. The local currency today resumed barely steady at 43.53/54 a dollar from overnight close of Rs 43.52/53 a dollar on uncertainty as the benchmark Sensex resumed lower.
However, recovery in equity market where the Sensex rebounded to end up by nearly 158 points on the back of firm European opening helped the rupee gain ground. It touched a high of 43.30 per dollar in late afternoon deals but some dollar buying at lower levels by oil corporates for their import requirements pulled the rupee down to close at Rs 43.42/43 a dollar.
Yesterday, it had gained 18 paise. Dollar recovery from overnight sharp correction against a basket of major currencies today also partly put some pressure on the rupee at the fag end.
Global crude oil prices were trading above USD 120 a barrel in Asian trade today. PTI.
Mumbai, Aug 22 (PTI) Continuing its gains for the second day in a row the Indian rupee today closed higher by 10 paise at 43.42/43 against greenback on alternate bouts of buying and selling amidst oil prices' climbing and recovery by US dollar. Dealers said they were anticipating further intervention by the apex bank to contain the sustain fall in the rupee, which hit 17-month intra-trade low of 43.86 on August 20.
However, suspected intervention by the Reserve Bank of India (RBI) in last two days helped the local currency to recover some lost ground. The local currency today resumed barely steady at 43.53/54 a dollar from overnight close of Rs 43.52/53 a dollar on uncertainty as the benchmark Sensex resumed lower.
However, recovery in equity market where the Sensex rebounded to end up by nearly 158 points on the back of firm European opening helped the rupee gain ground. It touched a high of 43.30 per dollar in late afternoon deals but some dollar buying at lower levels by oil corporates for their import requirements pulled the rupee down to close at Rs 43.42/43 a dollar.
Yesterday, it had gained 18 paise. Dollar recovery from overnight sharp correction against a basket of major currencies today also partly put some pressure on the rupee at the fag end.
Global crude oil prices were trading above USD 120 a barrel in Asian trade today. PTI.
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